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The analysts forecast the Global Orphan Drugs market to grow at a CAGR of 5.67 percent over the period 2013-2018. One of the key factors contributing to this market growth is the shorter development timelines. The Global Orphan Drugs market has also been witnessing the growing awareness of orphan drugs. However, the high cost of drug development could pose a challenge to the growth of this market.

The report, the Global Orphan Drugs Market 2014-2018, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, and the EMEA and APAC regions; it also covers the Global Orphan Drugs market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.

Key questions answered in this report:- What will the market size be in 2018 and what will the growth rate be?- What are the key market trends?- What is driving this market?- What are the challenges to market growth?- Who are the key vendors in this market space?- What are the market opportunities and threats faced by the key vendors?- What are the strengths and weaknesses of the key vendors?

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Commenting on the report, an analyst from the team said: “There has been increase in awareness about the potential benefits of orphan drugs among patients, surgeons, and hospitals. Public awareness about the use of orphan drugs is rapidly growing as a result of increasing social and public exposure and more advocacy groups and awareness campaigns. For instance, in 2010, the US FDA created the Rare Disease Program within the Office of New Drugs with the specific focus of developing the policies and procedures for the review of new drug applications for orphan drug products and to ensure access to appropriate training for US FDA reviewers. Similarly in 2012, the US FDA hosted the first ever US FDA Rare Disease Patient Advocacy Day to enhance the rare disease patient advocacy community’s awareness of the US FDA’s roles and responsibilities in the development of products for rare diseases. Thus, with the increasing awareness of orphan drugs, the market is expected to witness positive growth in the near future.”

According to the report, one of the main drivers in this market is the shorter development timelines. The clinical trials of orphan drugs for rare diseases involve fewer patients, which contributes to a shorter development process.

Further, the report states that one of the main challenges is the high cost of drug development. The rise in the cost of drug development often tends to discourage pharmaceutical innovators from developing orphan drugs.The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry.

The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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